China-based Gracell Biotechnologies Inc. (Nasdaq: GRCL) has secured a non-exclusive worldwide license to develop and commercialize up to five cell therapy products from US biotech company Seagen Inc (ETR: PFE). The agreement was finalized on March 8, 2023, just days before Pfizer announced its intention to acquire Seagen for USD 43 billion.
Terms of the License Agreement
According to an SEC announcement, Seagen agreed to grant Gracell a worldwide license for the development and commercialization of up to five cell therapies. Each license is non-exclusive and sub-licensable, allowing Gracell to leverage these opportunities globally. Financial details of the agreement were not disclosed.
Strategic Implications for Gracell
This strategic partnership enhances Gracell’s portfolio in the cell therapy space, providing access to innovative technologies and expanding its potential market reach. The timing of the agreement, just prior to Seagen’s acquisition by Pfizer, underscores Gracell’s proactive approach in securing valuable assets in the biotechnology sector.-Fineline Info & Tech
